21 Jan New Member offer – Entrepreneurs build businesses, Barristers help protect them
Board Support at the The Chambers of Miss C Buchan
Helping to give you legal confidence and credibility to enjoy running your the business in the Roaring Twenties.
I’d like to offer to help members get their limited companies compliant with Company Law.
Companies House accept all documents filed with it in good faith. Sometimes however there can be mistakes or omissions.
- Shares being allotted and then ignored on all subsequent Confirmation Statements and Accounts. These shares are issued and valid so should form part of the issued share capital but if unreported the company is non-compliant;
- Shares allotted on a company with pre-2006 Companies Act Articles and exceeding the authorised share capital. The authorised share capital still exists on pre-2006 companies unless changed by Resolution;
- Share restructures created by filing a form SH01 only, with no details of the rights. No resolutions or forms to reclassify and no amended Articles stating differential dividends or other rights;
- Purchase of own shares dealt with by filing one form with no other paperwork. No resolution(s) or contract created. Failure to do this procedure correctly will invalidate the transaction;
- Reductions dealt with by one resolution only with no Companies House forms or statement of solvency.
Scary stuff and the paperwork can seem overwhelming. If a complaint is lodged then the company could receive a fine or prosecution
- The Directors are also liable for prosecution;
- If the company is being sold it is always checked by the potential Buyer for compliance, so non-compliance could hold up or jeopardise the sale;
- If HMRC investigates the company it could be a major issue if the company hasn’t got the correct wording to allow differential dividends.
How I can help
For a small fee of £275.00 per company I will carry out a Company Health Check and produce a Report.
This will include: –
- Review of the company from incorporation
- Review of the Articles (including the share capital)
- Ensure all paperwork for all events have been completed correctly and comply with company law
- I will also issue recommendations if the company is non-compliant
For companies over 20 years old it may be necessary to obtain a DVD history and so I will advise if an extra fee for the registrars’ fee for the DVD is also payable.
Entrepreneurs build businesses, Barristers help protect them.
Barrister at Law & Company Secretary
Mediator and Arbitrator
Board Support services at the Chambers of Miss C Buchan
regulated by the Bar Standards Board